This week in insurance: Igloo CEO on AI to raise profits; more insurance perks and plans for HNWIs

Insurers also report promising financial results.

The insurance and broader financial services landscape from 11 to 15 May saw insurers roll out health-related enhancements, the expansion of auto-insurance in India, and insurers reporting promising financial results.

Insurance Asia interviewed Igloo CEO Raunak Mehta, who made the case for artificial intelligence (AI) in the insurance industry. Mehta said that AI can reduce the cost of handling claims, detect fraud earlier, and limit overpayments.

HSBC and HSBC Life signed a memorandum of understanding with Humansa, a healthcare and wellness brand focused on medicine and lifestyle solutions aimed at extending the human healthspan. High net worth (HNW) clients of the two organisations now have access to diagnostics and health assessments from Humansa.

Sun Life Singapore is now working with CapBridge to offer a permanent life insurance plan for HNW individuals (HNWIs) and family offices.

FWD Insurance saw new business premiums rise 55% year-on-year (YoY) in 2025, outperforming the industry average of 51%, it said.

Manulife Asia saw its earnings jump 22% on the back of growth across annualised premium equivalent sales and new business value.

India’s Navi General Insurance expanded its cashless garage network to over 1,600, from just 710 garages in January 2026. It is targeting over 3000 garages by June.

AXA China launched a health plan that promises a three-question medical questionnaire with no manual underwriting.